Banking licence of BANK NEYVA LLC revoked
By its Order No. OD-689, dated 16 April 2021, the Bank of Russia revoked the banking licence of the Yekaterinburg-based credit institution BANK NEYVA Limited Liability Company, or BANK NEYVA LLC (Registration No. 1293, hereinafter, Bank NEYVA). The credit institution ranked 188th by assets in the Russian banking system.1
The Bank of Russia made this decision in accordance with Clauses 6 and 6.1 of Part 1 of Article 20 of the Federal Law ‘On Banks and Banking Activities’,2 based on the facts that Bank NEYVA:
- violated federal banking laws and Bank of Russia regulations, due to which the regulator repeatedly applied measures against it over the past 12 months, which included restrictions on certain banking operations;
- failed to comply with the anti-money laundering and counter-terrorist financing laws.
Bank NEYVA performed dubious large-volume cash foreign currency sale transactions with individuals.
The Bank of Russia also cancelled Bank NEYVA’s professional securities market participant licence.
The Bank of Russia appointed a provisional administration3 to Bank NEYVA for the period until the appointment of a receiver4 or a liquidator.5 In accordance with federal laws, the powers of the credit institution’s executive bodies were suspended.
Information for depositors: Bank NEYVA is a participant in the deposit insurance system; therefore, depositors6 will be compensated for their deposits in the amount of 100% of the balance of funds but no more than a total of 1.4 million rubles per depositor (including interest accrued), except for the cases stipulated by Chapter 2.1 of the Federal Law ‘On the Insurance of Deposits with Russian Banks’.
Deposits are to be repaid by the State Corporation Deposit Insurance Agency (hereinafter, the Agency). Depositors may obtain detailed information regarding the repayment procedure 24/7 at the Agency’s hotline
1 According to the financial statements as of 1 April 2021.
2 The Bank of Russia made this decision because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, repeated violations within a year of the requirements stipulated by Article 7.2 of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’, and repeated application within a year of measures stipulated by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.
3 In accordance with Bank of Russia Order No. OD-690, dated 16 April 2021.
4 In accordance with Articles 127 and 189.68 of the Federal Law ‘On Insolvency (Bankruptcy)’.
5 In accordance with Article 23.1 of the Federal Law ‘On Banks and Banking Activities’.
6 Depositor — a citizen of the Russian Federation, foreign citizen or person without citizenship, including those engaged in entrepreneurial activity, or a legal entity specified in Article 5.1 of the Federal Law ‘On the Insurance of Deposits with Russian Banks’ which concluded a bank deposit/account agreement with a bank, or any of the above mentioned persons in whose favour the deposit was made and (or) who is the holder of a savings certificate, or the owner of a special account (special deposit) intended to form and use the fund of capital repairs of common property in an apartment house opened in accordance with the requirements of the Housing Code of the Russian Federation.
The reference to the Press Service is mandatory if you intend to use this material.
16.04.2021 00.00.00